Heller, Yuval (2009): Perfect correlated equilibria in stopping games.
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We prove that every undiscounted multi-player stopping game in discrete time admits an approximate correlated equilibrium. Moreover, the equilibrium has five appealing properties: (1) “Trembling-hand” perfectness - players do not use non-credible threats; (2) Normal-form correlation - communication is required only before the game starts; (3) Uniformness - it is an approximate equilibrium in any long enough finite-horizon game and in any discounted game with high enough discount factor; (4) Universal correlation device -the device does not depend on the specific parameters of the game. (5) Canonical - the signal each player receives is equivalent to the strategy he plays in equilibrium.
|Item Type:||MPRA Paper|
|Original Title:||Perfect correlated equilibria in stopping games|
|Keywords:||stochastic games, stopping games, correlated equilibrium, perfect equilibrium, Ramsey Theorem.|
|Subjects:||C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory > C73 - Stochastic and Dynamic Games; Evolutionary Games; Repeated Games|
|Depositing User:||Yuval Heller|
|Date Deposited:||12. Jun 2009 03:09|
|Last Modified:||13. Feb 2013 04:14|
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